Washington

An arrangement in which an authority issued bonds to finance facilities that are leased to a state would not cause the bonds to be private-activity bonds, according to a recent IRS private letter ruling.

Crowded terminals will become more common unless U.S. airports are able to fund the additional infrastructure needed to meet growing passenger demand.

Congressional committee leaders have sent a letter to Attorney General Eric Holder expressing concerns that the proposed settlement agreement with US Airways and American Airlines might hurt less populated and rural areas.

Moody's Investors Service has downgraded the rating on the Port of Seattle's intermediate and subordinate revenue bonds ahead of its $140 million refunding deal.

The National Association of Independent Public Finance Advisors has sent an open letter to Securities and Exchange Commission chairman Mary Jo White insisting the municipal advisor rule the SEC adopted in September will not restrict the flow of information between issuers and other parties to a bond deal.

Without a labor contract extension, Boeing could pursue out-of-state production locations, which would be a credit negative for Washington State and the Puget Sound region, Moody's Investors Service said.

A coalition of local leaders is asking Congress to generate an additional $30 billion a year for transportation efforts by almost doubling the federal gasoline tax.

A federal interagency task force, created to advise the Puerto Rican government on fiscal and economic matters, will meet with Puerto Rican officials next month, but will not provide any additional financial assistance, knowledgeable sources said.

Puerto Rico's pension funded ratio of 8.4% for 2012 was far worse than any of the 50 states, Morningstar, Inc., said in pension reports for 23 individual states and the territory it released on Wednesday.

Vice President Joe Biden used a visit to the Port of Houston to renew the Obama administration's proposal for a $50 billion infrastructure renewal program.

The Financial Industry Regulatory Authority fined five firms $255,500 and fined and suspended an individual for violations of municipal securities rules.

States are no longer waiting for the federal government when it comes to trying to drum up new revenue for transportation infrastructure, said Victor Mendez, administrator, Federal Highway Administration, Friday morning at the Bond Buyer's Transportation Finance/P3 conference here.

Action by Congress to eliminate both the tax exemption for municipal bonds and the state and local tax deduction would cause the loss of $71 billion or 0.35% of total gross domestic product and about 417,000 jobs or 0.28% of total employment over the next decade, two government groups said Thursday.

Municipal borrowers looking to expedite the process to tap the Transportation Infrastructure Finance and Innovation Act program for project loans should bring a thorough financing package to the table and be flexible in negotiating terms, loan recipients offered up as advice Thursday.

Issuers can take advantage of the independent municipal advisor exemption in order to get the advice of underwriters and other professionals who would otherwise be unable to offer it, according to a paper the Government Finance Officers Association has published about the Securities and Exchange Commission's final MA registration rule.

American Airlines and US Airways Group Inc. settled an antitrust lawsuit with the U.S. Department of Justice, clearing American's path to exit bankruptcy and repay its municipal bondholders.

Washington, D.C., and Detroit have the strongest funded pension plans, with Chicago the weakest, Morningstar Inc. said in a research report.

The Securities and Exchange Commission's municipal advisor registration rule will appear in the Federal Register Nov. 12, starting the 60-day countdown until it becomes effective Jan. 13.

The Internal Revenue Service has closed an audit of about $171 million of bonds issued by the East Baton Rouge, La. Sewerage Commission in 2006 without changing the bonds' tax-exempt status.

In a faltering economic environment where philanthropy often falls short, museums and memorials are looking to innovative bond structures and star-studded fundraising campaigns to finance their projects.